Musk says Tesla expects to meet Inflation Reduction Act requirements for new tax credits on EVs
To be eligible for the credit, the car’s battery must meet a minimum threshold of parts sourced from the U.S. or a select set of countries.
American Airlines expects fourth-quarter profit thanks to strong travel demand
American’s revenue rose to a record $13.46 billion in the three months ended Sept. 30, up 13% from 2019 despite flying nearly 10% less.
Elon Musk says Tesla is ‘pedal to the metal’ even with potential recession looming
On Tesla’s third-quarter earnings call, CEO Elon Musk told analysts how his car company plans to continue expanding regardless of what happens with the economy.
IBM surpasses quarterly projections and lifts its full-year revenue forecast
IBM saw a jump in mainframe computer and transaction-processing software sales in its first full quarter of sales of a new version, the z16, in May.
Stay the course? Bear market reminders for long-term investors
The S&P 500 is down 22% since the start of 2022, but there are signs that the bulls will overtake the bears in the new year.
Here’s what the Wells Fargo cross-selling scandal means for the bank’s growth
Wells Fargo’s reputation is in tatters following reports of mass-scale fraud. Regulators have fined the bank repeatedly and capped its growth.
John Fetterman ‘has no work restrictions’ as he recovers from stroke, PA Senate hopeful’s doctor says
The doctor’s assessment came as Fetterman’s auditory processing ability has continued to draw questions about his health in the late stages of the campaign.
Hyundai says Biden’s new EV tax credit rules deal ‘astronomical’ blow to business
The Biden administration’s elimination of tax credits for imported electric vehicles deals a massive blow to Hyundai Motor’s business, an executive said Wednesday.
CDC recommends Novavax’s Covid shots as mix-and-match first booster to Pfizer or Moderna
Novavax’s Covid shots rely on protein technology used in other vaccines for decades, rather than the messenger RNA used in the Pfizer and Moderna vaccines.
BMW plans to invest $1.7 billion in U.S. to produce electric vehicles
The investment will include $1 billion for production of EVs at BMW’s South Carolina plant, and $700 million to build a new battery-assembly facility.
